Cramer: The Depression Is Over!

[girl gone mad]

From http://www.businessinsider.com/cramer-the-depression-is-over-2009-4">Clusterstock:

Cramer: The Depression Is Over!

Whew! That wasn't so bad. Sure, it'd suck if you're someone who lost their job or your retirement, but it looks like it's all okay from here. The banks will now be allowed to get healthier based on a flick of the pen, stocks are up and most importantly, Jim Cramer has called the end of the depression.

Guess it wasn't a great depression or anything like that. Just a modest 18 month depression. No souplines. No great works programs. No civil unrest. And No tent cities. Now that's the kind of depression we like.

That being said, some folks disagree. Like http://messages.finance.yahoo.com/Stocks_(A_to_Z)/Stocks_U/threadview?m=tm&bn=58157&tid=383900&mid=383900&tof=37&rt=2&frt=2&off=1">this angry commenter on the Yahoo message boards:

Hello Jim,

1. tell the 2 counties in my area, whose unemployment rate is 19% and 14% respectively, the depression is over.

2. Tell your neighbor Dave Cote from Honeywell I have email evidence in which his minions have ORDERED American project managers to refrain from issuing purchase orders to American manuafacturer's and to issue purchase orders to the Indians and Chinese.

3. Tell the local owners of 2 mega malls the depression is over as they enter Chapter 11.

4. Tell the UAW the depression is over as GM declares bankruptcy and dumps their fat labor contracts and pension obligations.

5. The depression is over for a select group: the finanicla fraudsters, who, for a brief moment in time, actually feared prosecution for their deliberate fraud and fleecing.

6. When you see Mr. Cote, tell him I want my hedge clippers back.

Dude, what are you, some kind of economic girly man!? The depression is OVER.

[maxsolomon]

1. short-term stock market rallies are not evidence that this is over

not by a long shot.

[valerief]

2. Why is this moron still on teevee????? nt

[Ilsa]

3. Phew! What a relief! Can I order that custom car now? nt

[Hawkowl]

4. Irrefutable evidence

Well since whatever Cramer says, usually the opposite happens, I'd say it's a guarantee that the "depression" will intensify. The stock market is experiencing nothing more than a bear market rally, and a weak one at that.

Unemployment is still INCREASING AT AN INCREASING RATE. Home values are still declining at a record pace. These two key underpinnings of the economy must at least stop increasing before the economy turns around. Yes, the stock market anticipates an economic recovery, but it does NOT CAUSE an economic recovery.

[soothsayer]

5. The depression says Cramer is over!

[BobTheSubgenius]

6. I wish I could Rec downthread comments.

[Po_d Mainiac]

8. that's funny!

:rofl:

[shirlden]

7. Probably just a sucker rally

Big money tosses in some bucks.....runs the prices up.....little guy jumps back in......big money sells and runs off with little guys money. Same old, same old
But then Cramer is good at promoting "sucker rallies". I ignore him.........he is the Rush Limpballs of finance. All blow and all for what is good for Cramer.


:crazy:

I did pick up a few hundred this week just momentum trading with a couple of thousand. Not ready to trust more than that to this nutsy market.

[wuvuj]

13. 2 charts that say it ain't so...

..a retest begins???????


http://asburyresearch.blogspot.com/

[dixiegrrrrl]

9. There is a 2nd wave of ARMs due to adjust this month

and little attention has been paid to the credit card debt CDOs, and the student loan CDOs that are still being held, and still being defaulted on.
And the continuing housing price slide.

You wanna bet in the market, short it.

edit: spelling

[Po_d Mainiac]

10. And CRE n/t

[marketcrazy1]

11. CRE "assets" will be the first ones sold

in turbo timmy`s PPIP program. and the big banks will be participating in this program....... they will be buying each others "Toxic Assets" with non recourse loans from the Treasury, with the blessings of "our" government. i shit you not!!!

[ixion]

12. The Depression is over... coming from this idiot, it means

that all hell is about to break loose.